Landlords and Property Tax
Landlords and Property Tax Services
Investing in property has long been a trusted way to maximise your wealth. However, over the past few years property tax treatment has been through significant changes. The restrictions on loan interest to basic rate of tax and extra stamp duty on second homes, has frustrated many taxpayers.
Accurox offers solutions for all forms of property investors. From individual landlords to corporate landlords and from non-resident investors to property dealers.
What can we do for Landlords?
Our property and landlord services can offer the following services:
- Limited company accounts & Tax Returns
- Individual landlord Tax returns
- Property related tax advice
- Tax efficient property structure.
- Non-UK residents tax advice.
- Inheritance tax planning
- Stamp duty advise
- Annual Tax Enveloped Dwellings (ATED)
You can trust in Accurox and our team of specialists to ensure you never face unnecessary costs or fines. We see that you are registered into HMRC’s system to avoid any late registration penalties.
If you have been unaware of the need to declare the income you receive for your rented property, you should make a full disclosure to HMRC as soon as possible. The Let Property Campaign has been set up to allow landlords with undisclosed taxes to come forward, get up to date with the tax they owe, and access the best possible terms. In fact, if you have submitted your self-assessments and tax returns within the appropriate time frame, but have just made a mistake about your income, you will only be required to pay for a maximum of 6 years, no matter how long you have been behind with your tax affairs. Accurox can advise you on the best way to navigate this process as easily and safely as possible. We can calculate the interest and any penalties due and create and submit your disclosure to HMRC on your behalf.
Making Tax Digital (MTD)
From April 2023, landlords who are earning more than £10,000 income per year from rental properties will be required to file (and keep records of) their tax online. At Accurox, we have long encouraged our clients to embrace cloud accounting, and we already use Xero, one of the accounting software packages that is compatible with HMRC. If you haven’t already switched, we can make this process as easy as possible for you.
How can Accurox help?
- Our State-of-the-art accounting system.
- Online accounting helping you focus on your investments
- Paperless reporting
- Clear concise information
- Portfolio Analysis
- Return on investment analysis.
Contact us through the form below or call us now for faster transactions.
What our client say
When Xero signed up with Accurox, Naveed and his team persuaded us to try out Xero to manage our finances. We’re a family business and we’d never used any kind of digital accounting software before and we didn’t think we needed to. We were so wrong. It took us a while to change our habits, but we have never looked back. I use Xero to cost up jobs quickly on the spot to give an immediate quote to new clients, as a result we are winning more jobs than we were before. At the same time, we use it to issue invoices quickly and get paid faster, simple as that. And Naveed and his team are really helpful and friendly.
Accurox have really helped us to streamline our business. At [Business Name] we work across several projects at a time and we were getting into a muddle about receipts and expenses for materials bought ad hoc on the jobs. We were losing track and couldn’t get a handle on the profit and loss on individual jobs. When we brought our accounts to them, they immediately advised us to try to go paperless or reduce it as much as possible. They supported us with accounting apps that mean the business has better control over how money is spent on the job through company credit cards and all receipts are captured digitally straight away. It just means taking a photograph of it on the spot and entering it into the phone app, it’s easy and we don’t lose receipts anymore. We’ve saved a lot of money, but we were really surprised by the time saving. No more sorting through piles of greasy receipts on a Sunday. Cheers!
I was seriously considering packing my business in before I came to Accurox. It was always feast or famine and we were constantly finding it hard to meet our small payroll or get in the resources we needed. Naveed got his team to work with me on our cashflow forecasting and after a few months I really started to see the difference. Now I can see more clearly where the cash ebbs and flows and plan around that to meet the monthly needs. The cloud accounting has also meant that we get paid faster and that obviously helps the cashflow too! I would happily recommend Accurox to anyone who wants help taking control of their business.
Accurox have been great helping [Business Name] get to grips with CIS. We’d never felt confident that we were doing the right thing as it’s an extremely complicated system and it always felt like a huge responsibility. Naveed was able to explain the whole thing to us and get us sorted out for once and for all. We feel confident now that we are doing it the right way and doing the right thing by our subbies. It’s a huge relief and we can’t thank Naveed and the team at Accurox enough. If you’re looking for an accountant that understands CIS and construction businesses, Accurox is the best one out there!